1

KNOWLEDGE SYSTEM AND MANAGEMENT

Knowledge Management is the discipline that helps spread knowledge oI individuals or groups
across organizations in ways that directly aIIect perIormance. Knowledge Management envisions
getting the Right InIormation within the Right Context to the Right Person at the Right Time Ior
the Right Business Purpose.
Knowledge Management eIIorts typically Iocus on organizational objectives such as improved
perIormance, competitive advantage, innovation, the sharing oI lessons learned, integration and
continuous improvement oI the organization.
Dimensions
DiIIerent Irameworks Ior distinguishing between diIIerent 'types oI' knowledge exist. One
proposed Iramework Ior categorizing the dimensions oI knowledge distinguishes between tacit
knowledge and explicit knowledge.
Strategies
O rewards (as a means oI motivating Ior knowledge sharing)
O storytelling (as a means oI transIerring tacit knowledge)
O cross-project learning
O aIter action reviews
O knowledge mapping (a map oI knowledge repositories within a company accessible by
all)
Motivations
O Making available increased knowledge content in the development and provision oI
products and services
O chieving shorter new product development cycles
O acilitating and managing innovation and organizational learning
O everaging the expertise oI people across the organization
2

arriers
Knowledge Sharing is a challenging part oI knowledge management and plays a key role in the
success oI knowledge management initiatives.
O Common belieI that "knowledge is power"
O People don't trust each other with their knowledge
O Knowledge workers think it has negative consequences on their jobs (e.g. job security)
O People don't have enough time to do their job and share their knowledge
O It is hard to codiIy and capture knowledge in context
Knowledge Management System
Knowledge Management System (KM System) reIers to a (generally generated via or through to
an IT based program/department or section) system Ior managing knowledge in organizations Ior
supporting creation, capture, storage and dissemination oI inIormation. It can comprise a part
(neither necessary nor suIIicient) oI a Knowledge Management initiative.
enefits of KM Systems:
1. Sharing oI valuable organizational inIormation throughout organizational hierarchy.
2. Can avoid re-inventing the wheel, reducing redundant work.
3. May reduce training time Ior new employees
4. Retention oI Intellectual Property aIter the employee leaves iI such knowledge can be
codiIied.
5. time management




3

OLISTIC MARKETING
olistic marketing is a term used to describe a strategy that enables you to look at your
marketing eIIorts as a whole`, which in turn helps you develop an overall or olistic
marketing` plan.
Most small businesses look at their marketing and select marketing Iormats to action that they
are comIortable with, and thereIore, omit to undertake or incorporate marketing actions that are
less comIortable Ior them.
The core theory of olistic Marketing
The new economy make consumers and enterprises obtain a new incredible ability. nd These
new capabilities is very important Ior the new paradigm oI marketing. Meanwhile, the new
economy has also strengthened the third-party manuIacturers and value-related groups, also have
a major impact on the new paradigm.
1. Consumers gain new capabilities
Under the New economic conditions could gain the instantly, comprehensive inIormation in a
low cost. Consumers could be more interactive with sellers or other buyers. There are more
products and services could be chose. Consumers could look Ior sellers aggressively to enhance
your trade ability and trade position.
. Enterprises gain new capabilities
Under the condition oI new economy, enterprise could gain new capabilities too. or example, it
could be more instantly, more excurate, more Comprehensive but less cost to gain and spread
inIormation. You can achieve interation to make personality service possible.
. The value of Collaborative with manufacturers and related groups.
Under the condition oI new economy, the partners could not only improve operation eIIiciency,
but also strengthen the ability oI enterprise creating value. In order to co-operate with each other,
4

nterprises are trend to choose to corporate with several manuIacturers. The competition would
not be between enterprises, but between cooperation net.
. The idea of marketing new paradigm: the concept of olistic Marketing
Marketing is the core oI the new paradigm comprehensive marketing concept. olistic
Marketing concept is based on Sell concepts and marketing concepts.
olistic marketing concept:
To be truly holistic, the marketing approach should address all appropriate venues to get the
word out about the business, while keeping the strategy aligned with the values oI the people
involved with the business. These venues should include all traditional marketing approaches, as
well as internet marketing, social media marketing, search engine optimization Ior the business
website, and relationship marketing.
Internet marketing:
Internet marketing, also known as digital marketing, web marketing, online marketing, search
marketing or e-marketing, is reIerred to as the marketing (generally promotion) oI products or
services over the Internet. iMarketing is used as an abbreviated Iorm Ior Internet Marketing
Social media marketing:
Social media marketing is an addition to personal, small business, corporate, and non-proIit
organizations` integrated marketing communications plans.
Relationship Marketing:
Relationship Marketing was Iirst deIined as a Iorm oI marketing developed Irom direct response
marketing campaigns which emphasizes customer retention and satisIaction, rather than a
dominant Iocus on sales transactions.

3

INANCIAL ENGINEERING
inancial engineering is a multidisciplinary Iield relating to the creation oI new Iinancial
instruments and strategies, typically exotic options and specialized interest rate derivatives. The
Iield applies engineering methodologies to problems in Iinance, and employs Iinancial theory
and applied mathematics, as well as computation and the practice oI programming; see
computational Iinance.
Despite its name, Iinancial engineering does not belong to any oI the Iields in traditional
engineering. In the United States, the ccreditation Board Ior ngineering and Technology
(BT) does not accredit Iinancial engineering degrees.
inancial engineering is also the process oI creating new securities or processes, and designing
new Iinancial instruments, especially derivative securities. More importantly Iinancial
engineering is the process oI employing mathematical, Iinance and computer modeling skills to
make pricing, hedging, trading and portIolio management decisions. Utilizing various derivative
securities and other methods, Iinancial engineering aims to precisely control the Iinancial risk
that an entity takes on. Methods can be employed to take on unlimited risks under certain events,
or completely eliminate other risks by utilizing combinations oI derivative and other securities.
inancial engineering can be applied to many diIIerent types oI currencies and pricing options.
These include equity, Iixed income such as bonds, commodities such as oil or gold, as well as
derivatives, swaps, Iutures, Iorwards, options, and embedded options. With Iinancial engineering
comes many risks. Risks are divided into market risk and credit risk. Market risks can be
managed using risk identiIication, risk measurements, and risk management. Credit risks can be
managed using credit modeling and credit pricing.
To become a Iinancial engineer, one must have a strong understanding oI Iinancial economics,
mathematical tools such as probability and statistics and diIIerential equations, as well as have
engineering principles such as soItware engineering.
Notable Iinancial engineers include . Black and M Scholes Ior the pricing oI options and
corporate liabilities, Robert C. Merton Ior his theory oI rational option pricing and the
6

introduction oI stochastic calculus in the study oI Iinance. Robert . ngle is also notable Ior the
work in analyzing economic time-series with time-varying volatility. Clive W. J. Granger
analyzed the economic time series with common trend.
inancial engineering is normally employed in the securities and banking industries. It is also
used by quantitative analysts in consulting Iirms or in general manuIacturing and service Iirms,
in corporate treasury, corporate Iinance and risk management roles. inancial engineers will
oIten hold doctorates in computer science or mathematics, although, increasingly, have instead
completed a specialized (terminal) masters degree - usually the Master oI inancial ngineering,
or the more general Master oI Quantitative inance.














7

INTEGRATED MARKETING COMMUNICATIONS

Integrated marketing communications (IMC) is a process Ior managing customer
relationships that drive brand value primarily through communication eIIorts. Such eIIorts oIten
include cross-Iunctional processes that create and nourish proIitable relationships with customers
and other stakeholders by strategically controlling or inIluencing all messages sent to these
groups and encouraging data-driven, purposeIul dialog with them. IMC includes the coordination
and integration oI all marketing communication tools, avenues, and sources within a company
into a seamless program in order to maximize the impact on end users at a minimal cost. This
integration aIIects all Iirm's business-to-business, marketing channel, customer-Iocused, and
internally directed communications.
IMC Components
O The oundation - corporate image and brand management; buyer behavior; promotions
opportunity analysis.
O dvertising Tools - advertising management, advertising design: theoretical Irameworks
and types oI appeals; advertising design: message strategies and executional Irameworks;
advertising media selection. dvertising also reinIorces brand and Iirm image.
O Promotional Tools - trade promotions; consumer promotions; personal selling, database
marketing, and customer relations management; public relations and sponsorship
programs.
O Integration Tools - Internet Marketing; IMC Ior small business and entrepreneurial
ventures; evaluating and integrated marketing program.
Marketing mix component
The Internet has changed the way business is done in the current world. The variables oI
segmentation, targeting and positioning are addressed diIIerently.
Marketing was once seen as a one way, with Iirms broadcasting their oIIerings and value
proposition. Now it is seen more and more as a conversation between marketers and customers.
Marketing eIIorts incorporate the "marketing mix". Promotion is one element oI marketing mix.
8

Importance of IMC
1. rom media advertising to multiple Iorms oI communication.
2. rom mass media to more specialized (niche) media, which are centered on speciIic
target audiences.
3. rom a manuIacturer-dominated market to a retailer-dominated, consumer-controlled
market.
4. rom general-Iocus advertising and marketing to data-based marketing.
5. rom low agency accountability to greater agency accountability, particularly in
advertising.
6. rom traditional compensation to perIormance-based compensation (increased sales or
beneIits to the company).
7. rom limited Internet access to 24/7 Internet availability and access to goods and
services.
P's vs. C's
O Not PRODUCT, but CONSUMR: You have to understand what the consumer's wants
and needs are. Times have changed and you can no longer sell whatever you can make.
The product characteristics have to match the speciIics oI what someone wants to buy.
O Not PRIC, but COST: Understand the consumer's cost to satisIy the want or need. The
product price may be only one part oI the consumer's cost structure. OIten it is the cost oI
time to drive somewhere, the cost oI conscience oI what you buy, the cost oI guilt Ior not
treating the kids, the investment a consumer is willing to make to avoid risk, etc.
O Not PC, but CONVNINC: s above, turn the standard logic around. Consider
all possible deIinitions oI "convenience" as it relates to satisIying the consumer's wants
and needs. Convenience may include aspects oI the physical or virtual location, access
ease, transaction service time, and hours oI availability.
O Not PROMOTION, but COMMUNICTION: Communicate, many mediums working
together to present a uniIied message with a Ieedback mechanism to make the
9

communication two-way. nd be sure to include an understanding oI non-traditional
mediums, such as word oI mouth and how it can inIluence your position in the
consumer's mind.
Effective communications elements
The goal oI selecting the elements oI proposed integrated marketing communications is to create
a campaign that is eIIective and consistent across media platIorms. Some marketers may want
only ads with greatest breadth oI appeal: the executions that, when combined, provide the
greatest number oI attention-getting, branded, and motivational moments.
Promotions Opportunity Analysis
major task that guides the way in creating an eIIective Integrated Marketing Communications
plan is the promotions opportunity analysis. ' promotions opportunity analysis is the process
marketers use to identiIy target audiences Ior a company`s goods and services and the
communication strategies needed to reach these audiences. message sent by a marketer has a
greater likelihood oI achieving the intended results iI the marketer has perIormed a good analysis
and possesses accurate inIormation pertaining to the target audience.
Conduct a communication market analysis
O Competitors
O Opportunities
O Target markets
O Customers
O Product positioning




10

INTERNATIONAL R ISSUES
O s businesses grow and expand into other countries, there are several issues to consider,
many oI which Iall under the uman Resources (R) category. U.S.-based businesses
typically build their operational and procedural manuals based on U.S. standards and
regulations, but once a company opens up in another country, the rules and regulations
might be totally diIIerent. Couple that with changes in cultural norms, language barriers
and social diIIerences, and international business suddenly isn't as simple as it seems.
Safety and Labor Differences
O One oI the major international R issues that companies Iace is the diIIering rules and
regulations that countries have with regard to workIorce saIety and labor. In some
countries, saIety standards are diIIerent than in the United States, and employees may
require certain equipment and training that is diIIerent Irom what the company has in
place. dditionally, workers' protections vary greatly Irom country to country. or
instance, in Germany, asking employees to participate in a survey, a common U.S.
business practice, can be against local labor laws.
Language arriers
O One main issue Iacing international R departments is the language barrier between the
U.S. workIorce and overseas employees. OIten times, the mistake that companies make is
to simply translate U.S. employee materials, thinking that they will apply to audiences
worldwide. International R teams need to consider "localization" when communicating
to international employees. mployee communications that are Iilled with U.S. analogies,
such as Iootball or reIerences to U.S. culture, won't make sense outside oI U.S. borders.
To better communicate with your international audience, you must get to know what
makes sense to them.


11

Cultural Differences
O In addition to language barriers, international R teams must consider cultural
diIIerences and how to address them. In certain countries, such as those in atin merica,
it is still relatively uncommon Ior women to be in high-ranking positions. This may make
it diIIicult Ior a Iemale executive to gain the trust oI the employees there. It's important to
discuss openly with employees the Iact that in the United States, discrimination is illegal.
dditionally, it may be common in some countries Ior oIIicials to accept giIts and
gratuities in exchange Ior Iavorable business workings. Since U.S. businesses are
accountable to U.S. law no matter where they operate, extensive business ethics training
might be required in some international locations.














12

INTERNATIONAL LOGISTICS AND SUPPLY CAIN
MANAGEMENT
Meaning of logistics:
Logistics is the management oI the Ilow oI goods between the point oI origin and the
point oI use in order to meet the requirements oI customers or corporations. ogistics involves
the integration oI inIormation, transportation, inventory, warehousing, material handling, and
packaging, and oIten security. ogistics is a channel oI the supply chain which adds the value oI
time and place utility. Today the complexity oI production logistics can be modeled, analyzed,
visualized and optimized by plant simulation soItware, but is constantly changing. This can
involve anything Irom consumer goods such as Iood, to IT materials, to aerospace and deIense
equipment
Logistics ields
O Procurement ogistics
O Production ogistics
O Distribution ogistics
O Iter sales ogistics
O Disposal ogistics
Procurement Logistics
It consists oI activities such as market research, requirements planning, make or buy
decisions, supplier management, ordering, and order controlling. The targets in procurement
logistics might be contradictory - maximize the eIIiciency by concentrating on core
competences, outsourcing while maintaining the autonomy oI the company, and minimization oI
procurement costs while maximizing the security within the supply process.
Production Logistics
It connects procurement to distribution logistics. The main Iunction oI production logistics is to
use the available production capacities to produce the products needed in distribution logistics.
13

Production logistics activities are related to organizational concepts, layout planning, production
planning, and control.
Distribution Logistics
It has, as main tasks, the delivery oI the Iinished products to the customer. It consists oI
order processing, warehousing, and transportation. Distribution logistics is necessary because the
time, place, and quantity oI production diIIer with the time, place, and quantity oI consumption.
Disposal Logistics
The main Iunction is to reduce logistics cost(s), enhance service(s), and save natural
resources
usiness logistics
ogistics as a business concept evolved in the 1950s due to the increasing complexity oI
supplying businesses with materials and shipping out products in an increasingly globalized
supply chain, leading to a call Ior experts called supply chain logisticians.
Production logistics
The term production logistics is used to describe logistic processes within an industry. The
purpose oI production logistics is to ensure that each machine and workstation is being Ied with
the right product in the right quantity and quality at the right time.
Logistics management
ogistics is that part oI the supply chain which plans, implements and controls the
eIIicient, eIIective Iorward and reverse Ilow and storage oI goods, services and related
inIormation between the point oI origin and the point oI consumption in order to meet customer
and legal requirements. proIessional working in the Iield oI logistics management is called a
logistician.

14

CORPORATE GOVERNANCE
Meaning of corporate governance
The relationship between all the stakeholders in a company. This includes the
shareholders, directors, and management oI a company, as deIined by the corporate charter,
bylaws, Iormal policy and rule oI law.
rlnclples of corporaLe governance
O Rights and equitable treatment oI shareholders:
Organizations should respect the rights oI shareholders and help shareholders to
exercise those rights. They can help shareholders exercise their rights by openly and
eIIectively communicating inIormation and by encouraging shareholders to participate in
general meetings.
O Interests oI other stakeholders:
Organizations should recognize that they have legal, contractual, social, and
market driven obligations to non-shareholder stakeholders, including employees, investors,
creditors, suppliers, local communities, customers, and policy makers.
O Role and responsibilities oI the board:
The board needs suIIicient relevant skills and understanding to review and
challenge management perIormance. It also needs adequate size and appropriate levels oI
independence and commitment to IulIill its responsibilities and duties.
O Integrity and ethical behavior:
Integrity should be a Iundamental requirement in choosing corporate oIIicers
and board members. Organizations should develop a code oI conduct Ior their directors and
executives that promotes ethical and responsible decision making.
13

O Disclosure and transparency:
Organizations should clariIy and make publicly known the roles and
responsibilities oI board and management to provide stakeholders with a level oI
accountability. They should also implement procedures to independently veriIy and
saIeguard the integrity oI the company's Iinancial reporting. Disclosure oI material matters
concerning the organization should be timely and balanced to ensure that all investors have
access to clear, Iactual inIormation
enefits of Corporate Governance
1. Good corporate governance ensures corporate success and economic growth.
2. Strong corporate governance maintains investors` conIidence, as a result oI which,
company can raise capital eIIiciently and eIIectively.
3. It lowers the capital cost.
4. There is a positive impact on the share price.
5. It provides proper inducement to the owners as well as managers to achieve objectives
that are in interests oI the shareholders and the organization.
6. Good corporate governance also minimizes wastages, corruption, risks and
mismanagement.
7. It helps in brand Iormation and development.
8. It ensures organization in managed in a manner that Iits the best interests oI all.







16

ECONOMIC AND USINESS INTELLIGENCE
Business intelligence (BI) is a broad category oI applications and technologies Ior gathering,
storing, analyzing, and providing access to data to help enterprise users make better business
decisions. BI applications include the activities oI decision support systems, query and reporting,
online analytical processing (OP), statistical analysis, Iorecasting, and data mining.
Business intelligence (I) mainly reIers to computer-based techniques used in identiIying,
extracting, and analyzing business data, such as sales revenue by products and/or departments, or
by associated costs and incomes.
BI technologies provide historical, current and predictive views oI business operations. Common
Iunctions oI business intelligence technologies are reporting, online analytical processing,
analytics, data mining, process mining, business perIormance management, benchmarking, text
mining and predictive analytics.
Business intelligence aims to support better business decision-making. Thus a BI system can be
called a decision support system (DSS). Though the term business intelligence is sometimes used
as a synonym Ior competitive intelligence, because they both support decision making, BI uses
technologies, processes, and applications to analyze mostly internal, structured data and business
processes while competitive intelligence gathers, analyzes and disseminates inIormation with a
topical Iocus on company competitors. Business intelligence understood broadly can include the
subset oI competitive intelligence.
usiness intelligence and data warehousing
OIten BI applications use data gathered Irom a data warehouse or a data mart. owever, not all
data warehouses are used Ior business intelligence, nor do all business intelligence applications
require a data warehouse.
In order to distinguish between concepts oI business intelligence and data warehouses, orrester
Research oIten deIines business intelligence in one oI two ways:
17

Using a broad deIinition: "Business Intelligence is a set oI methodologies, processes,
architectures, and technologies that transIorm raw data into meaningIul and useIul inIormation
used to enable more eIIective strategic, tactical, and operational insights and decision-making."
When using this deIinition, business intelligence also includes technologies such as data
integration, data quality, data warehousing, master data management, text and content analytics,
and many others that the market sometimes lumps into the InIormation Management segment.
ThereIore, orrester reIers to data preparation and data usage as two separate, but closely linked
segments oI the business intelligence architectural stack.
Economic

conomics was Iormerly called political economy. The term Political economy means the
management oI the wealth oI the state. 'dam Smith, the Iather oI modem conomics, in his
book entitled 'n nquiry into the Nature and Causes oI the Wealth oI Nations` (Published in
1776) deIined conomics as a study oI wealth. Smith considered the acquisition oI wealth as the
main objective oI human activity. ccording to him the subject matter oI conomics is the study
oI how wealth is produced and consumed. Smith's deIinition is known as wealth deIinition.

usiness Economics or Economics of the irm

Managerial conomics consists oI that part oI economic theory which helps the business
manager to take rational decisions. conomic theories help to analyze the practical problems
Iaced by a business Iirm. Managerial conomics integrates economic theory with business
practice. It is a special branch oI economics that bridges the gap between abstract theory and
business practice. It deals with the use oI economic concepts and principles Ior decision making
in a business unit It is over wise called Business conomics or conomics oI the irm.




18

CYER LAW
Meaning:
Cyber law is a term that encapsulates the legal issues related to use oI communlcaLlve,
LransacLlonal, and distributive aspects oI neLworked lnformaLlon devlces and Lechnologles. It is
less a distinct Iield oI law than properLy or conLracL law, as it is a domain covering many areas
oI law and regulation.
Intellectual property:
Intellectual property (IP) reIers to creations oI the mind: inventions, literary and
artistic works, and symbols, names, images, and designs used in commerce.
Privacy:
The Cyberlaw Consultancy's policy is to respect and protect the privacy oI our visitors.
Cyberlaws.Net, The Cyberlaw Consultancy will not willIully disclose individually identiIiable
inIormation about its visitors to any third party without Iirst receiving that visitor's permission.
This policy statement tells you how we collect inIormation Irom you and how we use it. Using
the Internet should be an inIormative and enjoyable experience and we want to help you make it
so.
reedom of expression:
The Internet oIIers extraordinary opportunities Ior speakers. nyone who wants to
express an opinion about anything -- can make their thoughts available to a world-wide audience
Iar more easily than has ever been possible beIore. large and growing group oI Internet
participants have seized that opportunity.
1urisdiction:
Jurisdiction is an aspect oI state soverelgnLy and it reIers to judicial, legislative and
administrative competence. lthough jurisdiction is an aspect oI sovereignty, it is not
coextensive with it. The laws oI a nation may have extraterritorial impact extending the
jurisdiction beyond the sovereign and territorial limits oI that nation. This is particularly
19

problematic as the medium oI the Internet does not explicitly recognize sovereignty and
territorial limitations.
Common scenarios in cyber crime:
Unauthorized access: This occurs when a user/hacker deliberately gets access into someone
else`s network either to monitor or data destruction purposes
Denial of service attack: It involves sending oI disproportionate demands or data to the victims
server beyond the limit that the server is capable to handle and hence causes the server to crash
Virus, Worms and Trojan attacks: Viruses are basically programs that are attached to a Iile
which then gets circulated to other Iiles and gradually to other computers in the network. Worms
unlike Viruses do not need a host Ior attachments they make copies oI themselves and do this
repeatedly hence eating up all the memory oI the computer. Trojans are unauthorized programs
which Iunctions Irom inside what seems to be an authorized program, thereby concealing what it
is actually doing.
Email ombing: It reIers to sending a large number oI emai the victim resulting in the victim's
email account (in case oI an individual) or mail servers (in case oI a company or an email
service provider) crashing.
Web 1acking: This occurs when someone IorceIully takes control oI a website (by cracking the
password and later changing it). The actual owner oI the website does not have any more control
over what appears on that website
Theft and Physical damage of computer or its peripherals: This type oI oIIence involves the
theIt oI a computer, some parts oI a computer or a peripheral attached to the computer. nd
physically damaging a computer or its peripherals
andling of evidences by cyber analysts:
IdentiIy: ny digital inIormation or artiIacts that can be used as evidence. Collect, observe and
preserve the evidence nalyze, identiIy and organize the evidence. Rebuild the evidence or
repeat a situation to veriIy the same results every time. Checking the hash value.
20

1udiciary and IT Act :
O The judicial bodies are not Iully aware oI Cyber crime and the way in which
investigations are carried out.
O lthough Cyber law courses available in India, it is diIIicult to Iind a experienced cyber
lawyer who is aware oI orensic analysis and technical terms.
O It is diIIicult to convince judicial bodies including judges and the tribunal when evidence
is in a digital Iormat.
O There is no legal procedure Ior collecting, analyzing and presenting evidence in the court
oI law. ence the deIense lawyer can always anticipate a ambiguity.
O There are certain shortcomings oI the InIormation Technology ct, 2000 with regard to
identity theIt, spamming, pornography, data protection and internet banking.
Conclusion:
O Cyber laws essential Ieature in today`s world oI internet
O chieving global peace and harmony









21

INTELLECTUAL PROPERTY RIGTS AND GLOAL USINESS
Intellectual Property Rights:
Intellectual property (IP) is a term reIerring to a number oI distinct types oI creations oI the
mind Ior which a set oI exclusive rights are recognizedand the corresponding Iields oI law.
Under intellectual property law, owners are granted certain exclusive rights to a variety oI
intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and
words, phrases, symbols, and designs. Common types oI intellectual property include copyrights,
trademarks, patents, industrial design rights and trade secrets in some jurisdictions.
Copyright:
copyright is a set oI exclusive rights granted by a state to the creator oI an original work or
their assignee Ior a limited period oI time in exchange Ior public disclosure oI the work. This
includes the right to copy, distribute and adapt the work. In most jurisdictions copyright arises
upon Iixation and does not need to be registered. Initially copyright law applied to only the
copying oI books. Over time other uses such as translations and derivative works were made
subject to copyright.
Trademark:
trademark, trade mark, or trade-mark is a distinctive sign or indicator used by an
individual, business organization, or other legal entity to identiIy that the products or services to
consumers with which the trademark appears originate Irom a unique source, and to distinguish
its products or services Irom those oI other entities. trademark may be designated by the
Iollowing symbols:
O (Ior an unregistered trade mark, that is, a mark used to promote or brand goods)
O (Ior an unregistered service mark, that is, a mark used to promote or brand services)
O (Ior a registered trademark)
22

trademark is typically a name, word, phrase, logo, symbol, design, image, or a combination oI
these elements. There is also a range oI non-conventional trademarks comprising marks which
do not Iall into these standard categories, such as those based on color, smell, or sound.
Patent:
patent is a set oI exclusive rights granted by a state (national government) to an inventor or
their assignee Ior a limited period oI time in exchange Ior the public disclosure oI an invention.
The procedure Ior granting patents, the requirements placed on the patentee, and the extent oI the
exclusive rights vary widely between countries according to national laws and international
agreements. The exclusive right granted to a patentee in most countries is the right to prevent
others Irom making, using, selling, or distributing the patented invention without permission. It
is just a right to prevent others' use. patent does not give the proprietor oI the patent the right
to use the patented invention, should it Iall within the scope oI an earlier patent.
Trade secret:
trade secret is a Iormula, practice, process, design, instrument, pattern, or compilation oI
inIormation which is not generally known or reasonably ascertainable, by which a business can
obtain an economic advantage over competitors or customers.
Objectives:
inancial incentive:
These exclusive rights allow owners oI intellectual property to beneIit Irom the property they
have created, providing a Iinancial incentive Ior the creation oI an investment in intellectual
property, and, in case oI patents, pay associated research and development costs
Economic growth:
conomists estimate that two-thirds oI the value oI large businesses in the U.S. can be traced to
intangible assets.